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DRI Healthcare Trust (DHT-UN) investor relations material
DRI Healthcare Trust Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved strong portfolio performance with growth across all key financial metrics and a focus on resilient, diversified cashflow streams extending portfolio duration.
Completed internalization of investment management, paying a $48 million termination fee and acquiring assets from Persis Capital for $1 million.
Completed a synthetic royalty transaction on veligrotug and VRDN-003, with an aggregate deal value up to $300 million and $55 million deployed upfront.
Continued execution of NCIB program, repurchasing 1,351,897 units for $13.2 million in the nine months ended September 30 and 393,618 units for $4.1 million in Q3 2025.
Portfolio generated total income of $48.7 million and adjusted EBITDA of $36.7 million for Q3 2025.
Financial highlights
Total Cash Receipts for Q3 2025 were $43.6 million, up 12% year-over-year.
Total Income reached $48.7 million, a 17% increase over Q3 2024.
Adjusted EBITDA was $36.7 million, up 17% year-over-year, with an Adjusted EBITDA Margin of 84%.
Adjusted Cash Earnings per Unit were $0.55, and declared cash distributions per unit were $0.10.
Comprehensive loss: $57.7 million, primarily due to the $48 million termination fee.
Outlook and guidance
Robust pipeline of over $3 billion in potential opportunities under active evaluation as of September 30, 2025.
Anticipates first royalty receipts from veligrotug following its first commercial sale in the US.
Expects topline results from VRDN-003 phase 3 trials in H1 2026, with potential BLA submission by end of 2026.
Focus remains on long-term, sustainable growth and generating strong unitholder returns.
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